If a check is made payable to Paolo, and Paolo signs on the back ...

[kodithompson]

If a check is made payable to Paolo, and Paolo signs on the back of the check, Paolo is:
 A) the payee and the indorser.
 B)the drawee and the indorser.
 C)the payee and the endorsee.
 D) only the indorser.

Question 2

John Blackburn sold his property to Wilma Snyder for 95,000. Wilma paid 25,000 cash and assumed Blackburn's 70,000 mortgage. Six months after moving in, Wilma defaulted. What is John's liability?

[Jossy]

Answer to Question 1

A

Answer to Question 2

John remains liable. Mortgagee can choose to foreclose on the property.

[kodithompson]

Gracias!

[olderstudent]

Thanks for the timely response, appreciate it